M1 Finance has secured $150m in Series E funding round increasing its valuation to $1.45bn.
The round was led by SoftBank’s Vision Fund 2 while the start-up’s existing investors also joined. The finance super app has now raised a total of $300m through fundraising.
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M1 Finance is a money management app offering automated investing, borrowing and banking products. Currently, it has more than $4.5bn in total assets under management.
Notably, M1 Finance closed its Series B, C, and D rounds in the past one year.
The start-up plans to use the fresh funds to introduce products and features, fuel innovation as well as hire new talent.
M1 Finance founder and CEO Brian Barnes said: “Each funding round is proof and motivation that people believe in our mission of empowering financial well-being.
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By GlobalData“Financial well-being isn’t a luxury, it’s a necessity. Our platform helps people have more control, more freedom, and more power over their money.
“We experienced massive growth in the past year, and it’s extremely gratifying to see investors and clients believe in our vision and make it a reality.”
In the last one year, M1 launched several products. Last December, M1 introduced Smart Transfers. It was followed by the release of Custodial Accounts in February this year to enable parents or guardians invest in portfolios for younger generations.
Last month, the company rolled out Send Check feature to allow M1 Plus clients to send physical cheques from their M1 Spend Plus checking accounts.
